An American flag flies beyond the Volkswagen logo displayed at a Volkswagen dealership on April 4, 2025 in Pasadena, California.Mario Tama | Getty Images News | Getty ImagesGerman auto giant Volkswagen on Wednesday reported a substantial drop in first-quarter profit as the carmaker navigates the disruptive impact of U.S. tariffs on the global car industry.Europe’s biggest carmaker reported operating profit of 2.9 billion euros ($3.3 billion) for the first three months of the year, down 37% from the same period last year.Volkswagen reported first-quarter sales revenue of 77.6 billion euros, up 2.8% from the first quarter of 2024. The company…
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European stock markets were headed for a mixed open Wednesday, as investors pore through another slew of earnings along with euro zone economic growth data.The Stoxx 600 index notched a sixth straight positive session on Tuesday, extending its longest winning streak since January. The U.K.’s FTSE 100 meanwhile closed higher for a 12th session, marking its best run since 2017.Corporate results will be back in focus, with Airbus, Mercedes, TotalEnergies, Stellantis, Barclays, GSK and Volkswagen among those reporting.U.S. tariffs have unsurprisingly emerged as a key theme in early reports, with many companies citing the difficulty of forecasting, while bank profits beat estimates.…
Workers cross a junction near the Bank of England (BOE) in the City of London, UK, on Tuesday, April 8, 2025. Bloomberg | Bloomberg | Getty ImagesLONDON — Britain is at risk of losing budding fintech and cryptocurrency entrepreneurs to rival hubs if it doesn’t address pressing regulation and funding challenges, according to industry leaders.Several crypto bosses told CNBC this week that the U.K. has created an unfavorable environment for fintech and crypto. They argued that the local regulator takes too strict an approach to registering new firms, and that pension funds managing trillions of pounds are too risk-averseWhereas a decade…
UBS on Wednesday beat bottom line expectations as the lender seeks to rein in steep share declines that have cost it the crown of continental Europe’s largest bank amid sweeping U.S. tariffs. Source link
Widespread detentions and demolitions of property targeting Muslims in India have provoked concerns that right-wing Hindu nationalists are exploiting last week’s terrorist attack in Kashmir to deepen a campaign of oppression against the country’s largest minority group.Public anger has swelled after 26 people — all but one of them Hindu tourists — were killed by militants near the town of Pahalgam in the Indian-administered part of Kashmir, a Muslim-majority region. India has said that Pakistan had a supporting hand in the attack, an accusation that Pakistan denies.India has appeared to be preparing to strike Pakistan militarily in response to the…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailOn today’s episode of CNBC Crypto World, major cryptocurrencies trade higher with ether climbing more than 3% to more than $1,800. Plus, the Department of Justice is seeking a 20-year prison sentence for former Celsius CEO Alex Mashinsky. And, Chris Maurice of crypto payments firm Yellow Card discusses regulatory developments around stablecoins in the United States.10:44Tue, Apr 29 20253:32 PM EDT Source link
Pedestrians walk past an Itau Unibanco Holding SA bank branch in Sao Paulo, Brazil.Patricia Monteiro/Bloomberg | Bloomberg | Getty ImagesInvestors have been piling into emerging market bonds as Treasurys’ long-held reputation as a safe haven took a beating following U.S. President Donald Trump’s “reciprocal” tariffs.Emerging market local currency bond yields slid by 13 basis points between April 2 — when Trump announced the tariffs — and April 25, according to the most recent data provided by JPMorgan. In contrast, the benchmark 10-year Treasury yield rose by more than 7 basis points during the same period.”We are seeing that pickup into…
CNBC’s Jim Cramer on Tuesday expressed that politicians should take investors’ interests into consideration and pushed back against the notion that only wealthy people are shareholders who stand to benefit from market gains.”Shareholders are a constituency,” he said. “We should be considered. It’s not just arrogant rich people who own stocks. In fact, the mega-rich love to come on the air and tell you the stock market is too dangerous.”According to Cramer, the U.S. is home to many companies that do meaningful business and could make investors a lot of money, “yet neither political party wants to take credit for…
An abandoned ranch in western Mexico that groups searching for missing relatives had claimed was an “extermination camp” — because of discarded personal items and burned remains found there — was a training hub for a major cartel, Mexico’s attorney general announced on Tuesday. But, he said “there is not a single piece of evidence to prove” that the ranch was the site of human cremations.At a news conference presenting his office’s findings so far in the high-profile case, Attorney General Alejandro Gertz said that the Izaguirre ranch in Teuchitlán, a village near Guadalajara in Jalisco state, was “totally proven”…
‘Fast Money’ traders talk SMCI earnings. Source link
